Ford is going to ask for dollar and euro loans:
Bloomberg.com: Worldwide

GM says it may not have enough money to finish the year:
Bloomberg.com: Worldwide

Edit: I just thought about it and maybe this is the wrong forum for this. Move if necessary.

 

Are Honda, Toyota, VW, Hyndai and etc asking for loans too? Seems to me like **** poor management and the UAW will kill the big three eventually, the downturn in sales just made it sooner. Makes me wonder how many times they will need massive loans or bailouts in the future.

 

I guess I'm surprised it's this bad (or at least seems this bad based on the news). I guess it's not the end of the world. Even if it was, I still have my wife, kids, truck and cast iron skillet/dutch oven, and that's all I need...the ashtray, the remote control, the paddle game, this magazine and the chair. And I don't need one other thing except my dog.

 

I wish the big 3 didn't have such troubles. With any business you have ups and downs and it should be expected. Whoever survives I just hope they learn from their mistakes.

 

I want some money too

 

If FORD fails...and goes under, then who is going to sell me my NEW 3/4 ton truck? It won't be GM or Dodge...because they will fall first.

FORD just burned 7.7 billion dollars this past quarter. That is a tremendous amount just to keep operating. YES...they might have enough cash on hand until the end of 2009, but then again...they may not.

The SuperDuty truck is such a GREAT product, that it would be a travesty not to be able to purchase anymore because FORD is gone.

My VOTE is YES...let the Govt loan the money to the Big 3. Heck...it will be re-paid. Also...my last point here: If the Govt can bailout Wall St, then they can help the Big 3!


biz

 

issue to me seems to be too much overhead. The news today also indicated that both GM and Ford were laying off salaried workers. Not the people on the assembly line. That means too much fat at the top.

They need to get lean and learn to do something besides corporate meeting at the Golf club and then we will get somewhere. I think they may be waking up now.

 

maybe if they take care of the people who spend the hard earned cash . ONLY to get a truck that cant hit a bump , send you into a name now called the death wobble . Then dont care if you die or not cause it will cost you less money to just deal with the lawsuits , instead of doing the right thing and recall theire junk . This is why they cant sell a car , THEVE FORGOTTEN IT STILL ABOUT REPUTATION . Why would any one care about them , they ovoiusly dont care about US . Good riddens . Treat me fair , and ill be back , screw me and screw you ! a happy 06 drw 350 with death wobble !! That no one from ford has ever heard of

 

Sink or swim. Break the UAW and hire people for "real" wages for basically unskilled labor.

 

Thread moved to the General Automotive forum...

 

GM needs to file C11 now. Giving Rick Wagner billions of taxpayer money will only prolong it a year or so, like shoveling cash into the fireplace. Unless there are big strings attached, like a change of management, no gov'mt money. The Chrysler deal in the 1970's was different, new management (Iaccoca), and they were only loan guarantees, backed up by our taxes if necessary, not an outright payment of our money.

Todays Chrysler is owned by a hedge fund and the financials are secret. Give them our money now? NO!

Ford may be the only halfway "deserving" one because they did change top management already. The problem is that to give Ford any money means they all get it. No thanks.

Jim

 

Something needs to be done to keep all of them afloat but PLEASE IN THE NAME OF GOD NO MORE BIG MONEY DEALS FOR ANOTHER 74 DAYS.....PLEASE

 

"O" get real, Obama will spend tax money like a drunkin sailor, it's the Dems way, raise taxes and spend it. My vote is to also help out the big 3. We give money to palistine to stop bombing Israel, money to Afgainastan to stop growing poppey, money to Columbia to stop cocaine production just to name a few. So it's time to help our own, the auto industry employee's alot of people across this country, directly and indirectly. My youngest son works at a factory that makes parts for ford and GM, but the factory is privatly owned. There's alot of business's that suport the auto industry thats not owned by them. Then you have the people who work directly for them. Thats alot of jobs, it triclkles down to the people working at the dealerships and even the replacement parts industry. There's alot on the line here. If the american auto industry fails, it will be like a knife through the heart of the nation and effect people around the world. It was the american auto indusrty that powered the U.S through world war II building war materials. It would also help if you can, to go buy a new car or truck, it's a buyer's market right now. I just purchased 2 new fords to try and help out. I was going to wait a couple of years, but the deals were to good to pass up and ford needs to sell cars now. My dad depends on ford for his pension, ford provided us with everything we had when I was growing up by giving my dad a good job. He worked at the Brookpark plant from 1953-1983 when he retired. Alot of our friend and family still depend on ford for a living. It would effect our area deeply as ford, chrysler and GM all have plants in this area. I say do all that we can to save them, on a goverment and personal level if you can.

 

I haven't decided whether I'd be in favor of bailing Ford and GM out, or not. Chrysler--definitely not, it's privately owned. On one hand, you think about all the jobs that depend on Ford and GM, but on the other hand, they've basically dug their own holes, management and workers both.

The one thing I'm curious about--Ford's laying off salaried people. That's good in one sense, I guess, but what worries me is if they're cutting the engineers that might design their next car, rather than managers, who usually give the least return for their salary.

 

Man this is a tough one. I am a die hard car guy, and would be heartbroken if we didnt still have the big 3, but we cant prop up those companies that dont do good business! we have to keep our hands out and allow the weak to go and the strong survive. make the changes nessecary in there bargaining agreements with labor, scale back salaries for the upper end, and build cars that arent sale proof. Ford doesnt have a car that can be considered a winner, short of pick ups they have nothing. in fact they are all in that boat. How many darn jeep platforms can you force on the american public. the economy cars really arent that economical. bottom line is allow the big 3 to reap the fields they have sown. Dan